Eurozone Preliminary Manufacturing PMI improves to 43.8 in November vs. 43.4 expected

Eurozone Manufacturing PMI rose to 43.8 in November, beating estimates of 43.4.
Bloc’s Services PMI improved to 48.2 in November vs. 48.1 expectations.
EUR/USD keeps gains near 1.0920 after German, Eurozone PMI reports.

Dhwani Mehta FXStreet

The Eurozone manufacturing sector slowed its pace of contraction alongside the services sector in November, the latest figures from the HCOB's latest purchasing managers index survey showed Thursday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) climbed to 43.8 in November, compared with the expectations of 43.4 and above the 43.1 booked in October. The index hit a six-month top.

The bloc’s Services PMI rose to 48.2 0 in November from 47.8 in October, hitting a two-month high, outpacing the 48.1 consensus.

The HCOB Eurozone PMI Composite improved to 47.1 in November vs. 46.9 estimated and October’s 46.5 figure. The index jumped to a two-month high.

FX implications

EUR/USD is consolidating gains near 1.0920 after upbeat Eurozone PMIs. The spot is up 0.25% on the day, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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